The Royal Institution of Chartered Surveyors (RICS) is a global professional body for those working in the Built Environment, Construction, Land, Property and Real Estate.

It works at a cross-governmental level,[4][5] and aims to promote and enforce the highest international standards[6][7] in the valuation, management and development of land, real estate, construction and infrastructure.

The RICS is linked to other national surveying institutions, collaborates with other professional bodies, and, in 2013, was a founder member of a coalition to develop the International Property Measurement Standards (IPMS).

In September 2021, an independent review exposed poor governance practices at the highest levels of the RICS organisation, prompting the resignations of the president, chief executive, interim chair of the governing council, and chair of the management board, in addition to the earlier resignation of the chief operating officer.

[12] RICS has close links with many national surveying institutions[example needed] and is a founding member association of the International Federation of Surveyors (FIG).

Within RICS the primary areas of practice represented at FIG are geomatics (land and hydrographic survey), environment, planning, construction and valuation.

[1] The majority of accredited individuals were still based in the United Kingdom, but with large numbers also in mainland Europe, Australia and Hong Kong.

RICS has links with universities worldwide, with whom they have accredited approved courses which satisfy part of the qualification requirements to become trainee surveyors.

According to the Sunday Times, four non-executive directors had expressed concerns about the report's findings, but were dismissed in November 2019 by then president Chris Brooke.

[27] In 2019, RICS finances were reported to have been in a difficult position, the organisation having made a pre-tax loss of £4.7m on £91.3m of income from fees and commercial activities.

[29] In April 2021, Peter Oldham, the chair of the independent review of RICS's governance resigned "for professional reasons", to be replaced by Alison Levitt QC with completion delayed to June 2021[30] – later pushed back to mid-August 2021.

[31] On 4 June 2021, Building reported the "surprise" resignation and immediate departure of RICS' chief operating officer Violetta Parylo amid "a storm of calls" from members for reform.

[35] Property Week columnist Peter Bill said "a private tiff has ballooned into a crisis of confidence in the 130,000-member institution" with a defensive management facing a small but powerful group of disaffected members.

[38] In light of the Review findings, RICS president Kathleen Fontana, the interim chair of the governing council Chris Brooke, and management board chair Paul Marcuse also resigned,[39] and RICS terminated its relationship with London law firm Fieldfisher, criticised by Levitt for being "demonstrably and inappropriately partisan.

[39] On 30 September 2021, Building reported on a "grovelling public apology" from the RICS to the wrongfully dismissed non-executive directors, and said an external review of the institution's future purpose was set to start within weeks.

[44] Gleeds chairman and Building columnist Richard Steer called the governance scandal an "appalling advert for our profession on the world stage" and said RICS needed to undergo a "complete restructuring".

[46] In October 2021, the RICS refused a request by 40 former and current employees to launch an investigation into how the institution selected staff to be furloughed during the COVID-19 pandemic.

Bichard's recommendations included: a renewed and increased focus on the public interest remit of RICS, including amending the Royal Charter and creating a public interest panel to advise the RICS's Governing Council; maintaining self-regulation, through greater independence for regulatory functions; increased focus on diversity and inclusion; empowering and enabling members through greater support for regional boards, alongside increased member engagement, with renewed focus on younger members; an independent review of RICS's governance and effectiveness at delivering against its Charter for the public advantage once every five years; a new simplified, clear, accountable governance structure; and greater leadership on major society issues such as sustainability and climate change.

[50] In August 2022, Bichard was appointed as interim senior independent governor through to 31 December 2023, responsible for scrutinising the actions of the RICS' governing council and committees.

[52] In December 2022, the RICS announced the establishment of a new board to oversee day-to-day operations and deliver the governing council's strategic plan.

[53] In January 2022, the Department for Levelling Up, Housing and Communities was reporting to be planning legislation to enable regular reviews of the RICS's governance.

Ministers were said to be frustrated by a RICS decision in December 2021 to maintain its valuation advice requiring External Wall System forms (EWS1s) on blocks under 18m high.

There are regional offices in the United Kingdom, across mainland Europe, in China, Singapore, Australia, the Middle East, Sub-Saharan Africa, North America and Brazil.

SMM7 was replaced by the New Rules of Measurement, volume 2 (NRM2), which were published in April 2012 by the RICS Quantity Surveying and Construction Professional Group and became operational on 1 January 2013.